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Author Topic: Insuring the crypto assets. Is it possible?  (Read 835 times)
OrangePotato
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November 24, 2018, 05:05:41 AM
 #1

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
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November 24, 2018, 05:08:49 AM
 #2

Saved 1 eth on the $520 level
sold at 300 lol
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November 24, 2018, 06:07:00 AM
 #3

sold at $205, but didn't lost much
as for insurance, i can say that it's pretty hard to implement. it'll take long time to establish the whole crypto-related insurance system, there're many nuances an so on. anyway, just my opinion
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November 24, 2018, 06:33:16 AM
 #4

sold at $205, but didn't lost much
as for insurance, i can say that it's pretty hard to implement. it'll take long time to establish the whole crypto-related insurance system, there're many nuances an so on. anyway, just my opinion

Looks like it's the question of time.
Even for the well-established third party companies, innit? Still curious about this thing tho
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November 24, 2018, 06:50:17 AM
 #5

To be honest, it sounds almost impossible for me.
I honestly cannot imagine how it should be done and who's going to bear such a responsibility.
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November 24, 2018, 06:55:01 AM
 #6

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

If I were to ask, I think there is nobody who would offer insurance for cryptocurrency. A volatile investment is not that effective to be insured and would possibly a deficit for the insurance company's assets.

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November 24, 2018, 07:00:27 AM
 #7

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

If I were to ask, I think there is nobody who would offer insurance for cryptocurrency. A volatile investment is not that effective to be insured and would possibly a deficit for the insurance company's assets.
Every real investment needs an insurance. Instead of this we'll have the pachinko market like to play and win/ or not
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November 24, 2018, 07:12:57 AM
 #8

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.

What do you mean by "insurance shcemes"?Keeping your asstes safe from theft or keeping their price/value from a price crash?If you mean the second option,then btc futures contracts and shorting are they only way to keep the bitcoin price in a bearish market.Anyway,futures contracts and shorting will cost you a small fee.




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November 24, 2018, 07:54:24 AM
 #9

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more?

insurance schemes, for protecting from market moves? no such thing. nobody provides that kind of insurance, especially in the crypto world. the only thing you can really do is hedge your holdings by shorting or selling. i hedge by selling futures contracts on bitmex with leverage---that way i can minimize the amount of funds deposited on exchanges.

mu_enrico
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November 24, 2018, 09:06:12 AM
 #10

It would be very expensive to insure something that has a high risk. Actually, to keep the premium affordable, the insurance company uses "the law of large numbers" to minimize the variance of a risk.

For example for life insurance: from country population data, 5% of people would die because of an unnatural cause in the next 20 years. Then the insurer would simply design a product that could gather a large number of people to "share" the risk. The bigger the better to minimize the variance to get the 5% for further premium calculation.

Without "the law of large numbers" and low risk, you will end up paying a stupid amount of premium. Just like CR7's legs.

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November 24, 2018, 09:16:02 AM
 #11

sold at $205, but didn't lost much
as for insurance, i can say that it's pretty hard to implement. it'll take long time to establish the whole crypto-related insurance system, there're many nuances an so on. anyway, just my opinion

Looks like it's the question of time.
Even for the well-established third party companies, innit? Still curious about this thing tho

yep, time will tell
it'll be great not only for third party companies, but for all the parties concerned imo. f.e., saving your assets in case of exchange hacking or smth like this
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November 24, 2018, 12:25:42 PM
 #12

It is a pretty sad situation where I have lost more than 50% of my assets, but I am not too worry, before I sell the coin its mean that I haven't lose any money yet, I never heard any investment insurance but its a bit odd, every investment got a risk that can't be decrease using insurance, insurance in investment going go make your profit goes down
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November 24, 2018, 12:55:54 PM
 #13

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.
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November 24, 2018, 01:07:57 PM
 #14

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
We're almost the same, I'm holding my Crypto asset since the first quarter of this year but until now still, I cant them all due to having a lose if I'm going to sell. There's nothing we could do is keep on holding or rather accept our losses and cut it all. Holding here is the best decisions you have.
Insurance? I don't think so we have our own responsibilities when it comes investment and I think the best gift we had if the market has begun to raise up.
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November 24, 2018, 01:18:38 PM
 #15

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.
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November 25, 2018, 10:17:15 AM
 #16

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

This topical subject sounds interesting, so I did a small google research and found that
still trying to figure that one out, probably smb will understand it better.
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November 25, 2018, 10:30:17 AM
 #17

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more?

insurance schemes, for protecting from market moves? no such thing. nobody provides that kind of insurance, especially in the crypto world. the only thing you can really do is hedge your holdings by shorting or selling. i hedge by selling futures contracts on bitmex with leverage---that way i can minimize the amount of funds deposited on exchanges.

exactly. no one will take responsibility of the market moves, so the ball's in your court. it sounds like you want to shift the responsibility onto somebody else tbh  Grin
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November 25, 2018, 10:39:47 AM
 #18

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.

Ok, what will their benefits? In case of exchange's hacking, there's huge amounts of money. Who'll be able to make amends?
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November 25, 2018, 10:57:23 AM
 #19

not worrying about the current rates, just bought some more btc. started from the bottom to the moon!  Wink
have nothing to add about the insurance, i can only agree with all the guys here who say it's hard or impossible. that's exactly what i wanted to say.
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November 25, 2018, 11:16:57 AM
 #20

Well, how much you lost on the "Bitcoin's Black Friday"?
I decided to hodl since the middle of the year, was pretty tired of following this rigmarole. Now I'm sad to see the current rates.
I heard there's kinda insurance schemes for saving your assets, does anyone know more? Like everyone else, I'm waiting for Christmas gifts, but I already wanna get some cushion from these adventures.
Nah, i don't think so. Who gonna take responsibility for all money? Exchanges? Definitely not the decentralized ones like ethermium and idex. Regular like Binance? Well, maybe. But if they got hacked they just apply for a bankruptcy and tha't all, folks.

It would be great if there's some indepedent bodies who'd provide some insurance options in case of hacking, bankrupting etc, isn't it? I mean, somebody who regulates the relations between the exchanges and the users.
That's possible if all people who trade would be fully identificated, and that's millions of people. I think, it's technically impossible to insure all this people
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